FinCEN on Thursday put banks and other financial firms on notice about a sprawling set of Chinese crypto and money laundering networks, saying they play a major role in moving illicit funds tied to Mexico-based drug cartels and other crimes.

According to the Treasury agency, the warning comes with both an Advisory and a Financial Trend Analysis that outline how the networks work and where banks should look for trouble.

Large Numbers And Red Flags

FinCEN reviewed 137,153 Bank Secrecy Act reports filed between January 2020 and December 2024, linked to suspected activity by these networks.

Those filings covered about $312 billion in suspicious transactions. Banks also flagged 17,389 reports tied to the real estate sector, representing more than $53.7 billion in suspected activity.

The

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